TSX-listed Nevada Copper has appointed Randy Buffington as president and CEO, with immediate effect, further strengthening its senior management team as operational productivity and production ramp-up at the Pumpkin Hollow underground mine.
Interim CEO Mike Brown has stepped down as interim president and CEO and continues his active involvement and oversight through his ongoing role as a director of the company.
The company notes that Buffington has successfully delivered multiple project ramp-ups and productivity improvements in an underground setting, in addition to overseeing the development and operation of multiple large openpit projects.
"Mr Buffington brings a deep industry network in Nevada and a strong record of value delivery in both operating underground mines and large openpit projects, ideally positioning him to lead Nevada Copper towards the delivery of steady-state production from its underground mine and realising the full potential of its fully-permitted openpit project and extensive landholdings within the Yerington copper district," the company states.
“I look forward to working with the team at Nevada Copper as we continue to push and improve productivity and accelerate our transition into a commercial producer. There is a tremendous foundation to build on at Pumpkin Hollow and I am pleased to be leading the company towards realising its full potential as a midtier copper producer,” comments Buffington.
Meanwhile, Nevada Copper also reports a positive operational performance at the underground mine for September.
Copper-in-concentrate production increased by 265% month-on-month, driven by higher stope production. About 30 386 t of ore were processed yielding 682 t of concentrate at an average grade of 22%, resulting in about 150 t of copper production.
Stoping accelerated significantly since mid-August, with the second and third stope panels fully mined and a fourth stope panel expected to be mined this week.
Further stopes are planned in October and November, and mining of the high-grade Sugar Cube zone is expected to start during the fourth quarter of this year.
Further, September saw the highest monthly development footage achieved since April, with a 12% increase over August.
Development activities included completion of the crossing of the water bearing dike, accessing additional stoping zones and the installation of development infrastructure. About 750 lateral equivalent feet was advanced in September, the company says.